I have plenty of fail lately,
More filters could definitely increases the odds.
Playing loose hands.
Not a bunch of setups,
Indexes down on all timeframes,
Breakouts turn into great short entries.
…
I am aware of the Biotech issues,
Current environment make them even more vulnerable to gap down.
The overhead makes sense.
Thanks for sharing your thoughts.
I know there can be quick winners on the hourly,
I check the monthly performance.
Found 4 stocks …
FNGR, PEGY, IMUX and another
They are all above the 200, 50 and 20 sma.
They trade above 1 million shares
On the daily they look extended,
But the close keeps higher than the highest low.
No sign of reversal on the daily,
I watch for a little consolidation on the hourly,
The cleaner and the tighter the pause, the better.
If it closes above the resistance with above average volume then I buy …
It’s really basic.
That’s why I lost a bunch lately.
It works well when the market’s going up.
That’s why I had a rule not to buy while the indexes are reactionary.
I should follow it.
Still have to find my process.
